Between 2013 and 2023, the metal polishes market in Bulgaria saw a steady decline, from 1.0814 million Euros in 2013 to 0.83174 million Euros in 2023. The most significant drop occurred in 2016, with a year-on-year decrease of 15.37%. In recent years, the year-on-year variation showed minor fluctuations, declining by 1.77% in both 2022 and 2023. The Compound Annual Growth Rate (CAGR) over the last five years was negative, at -1.62%, indicating an overall decline in market size.
Future trends to watch:
- Innovations in eco-friendly or more efficient metal polish formulations.
- Potential economic factors or consumer preferences influencing the demand curve.
- Market recovery strategies post-2023 could instigate a shift in current trajectory.
